Editor’s note: This story, published at 7:37 p.m. May 2, was updated at 9:32 a.m. May 4 to include information about pre-primary campaign finance reports filed by U.S. Senate candidates Angela Alsobrooks and Larry Hogan.
In a three-and-a-half-week period in April, U.S. Rep. David Trone of Potomac poured another $12.35 million in personal funds into his bid for the Democratic nomination for U.S. Senate–bringing to an eye-popping $54.12 million the extent to which he has dug into his own pocket to fund his campaign since launching it a year ago.
In a pre-primary disclosure report filed Thursday afternoon with the Federal Election Commission, Trone–during the period from April 1 through April 24–reported operating expenditures of nearly $9.79 million, for total campaign expenses of approximately $51.66 million to date.
Trone has been running a saturation TV and digital ad campaign across the state since September in his primary contest against Prince George’s County Executive Angela Alsobrooks. Early voting in that contest, which culminates with the primary on May 14, began Thursday.
While Alsobrooks has relied entirely on outside donations to fund her campaign, only a small fraction of what Trone has raised has come from outside contributors: $150,000 in April, and $796,000 in the course of his campaign.
Alsobrooks’ report, filed Thursday evening, shows her taking in $621,500 during the pre-primary period, with just over $230,000 being transferred to her campaign committee from other fundraising entities. In recent months, the Alsobrooks campaign has formed so-called joint fundraising committees with such prominent backers as Sen. Chris Van Hollen (D-Md.) as well as Sens. Cory Booker (D-N.J.) and Kirsten Gillibrand (D-N.Y.).
These joint fundraising committees allow candidates to split the proceeds of what they raise together while sharing the costs. The largest single transfer in this category came from an entity called the Alsobrooks Victory Fund, formed late last year to raised money in conjunction with AlsoPAC, a so-called leadership political action committee that Alsobrooks created.
The Alsobrooks campaign committee reported about $1.84 million in expenditures during this period, during which Alsobrooks began airing campaign commercials in the Washington, D.C., TV market. That is approximately one-fifth of what was spent by Trone during the same time frame.
However, during the course of the year-long campaign, Alsobrooks has been outspent by Trone more on the order of 10-1: Her campaign reported total operating expenditures of approximately $5.72 million, as compared to the $51.66 million spent by Trone.
The latest report showed Alsobrooks with about $1.91 million in cash on hand as she entered the homestretch of the primary campaign. Trone reported having about $3.73 million in his campaign treasury–but, in his case, that figure is of very limited relevance, given his willingness to continuously write large personal checks to underwrite campaign operations.
Alsobrooks and Trone are in a battle for the right to face the expected Republican nominee, former Gov. Larry Hogan, in the fall.
Hogan–heavily favored in a Republican primary in which he faces six other contenders who are largely political novices and perennial contenders–reported receipts of nearly $1.17 million in his latest report, with more than $750,000 of that a transfer from a separate entity, the Hogan Victory Fund. That is yet another joint fundraising committee, in which partners include the National Republican Senatorial Committee (NRSC), the campaign arm of the U.S. Senate Republican caucus.
The NRSC is expected to spend heavily in the fall campaign on behalf of Hogan, who entered the race just before the Feb. 9 filing deadline at the urging of Senate Republican Leader Mitch McConnell of Kentucky. The latest report by his principal campaign entity, Hogan for Maryland, reported about $1.78 million on hand with about three weeks to go until the May 14 primary.
Trone appears to have moved into third place on the all-time list of Senate self-funders, and could be within shouting distance or overtake the all-time record–the $63.57 million spent by Florida Republican Sen. Rick Scott when he was first elected in 2018–by the time all the votes are cast in this year’s Maryland primary.
Scott made his fortune in health care before entering politics; Trone is co-owner of Total Wine & More, a nationwide chain of alcohol beverage retail outlets.
Trone’s total appears to have surpassed Republican Linda McMahon for spending on a single Senate campaign, according to information from Open Secrets, a Washington-based independent non-profit group that collects and organizes campaign financial data.
McMahon spent $50 million of her own assets in a 2010 losing contest for a Connecticut Senate seat, only to do it again two years later—pouring $48.6 million in another unsuccessful campaign. McMahon and her husband, Vince McMahon, founded the broadcast and entertainment firm that includes World Wrestling Entertainment (WWE).
Second on the all-time list of Senate self-funders is the 2000 campaign of New Jersey Democrat Jon Corzine, a long-time executive and partner in the Wall Street investment firm of Goldman Sachs. Corzine spent $60.2 million to win his Senate seat nearly a quarter of a century ago–which translates into nearly $109 million in today’s dollars after inflation is factored in.
